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EngadgetVery negative

New York Attorney General sues two prediction markets on illegal gambling allegations

New York Attorney General Letitia James has sued Coinbase Financial Markets and Gemini Titan, alleging they are operating unlicensed gambling operations and violating state laws by allowing bets on games involving New York college sports teams. This action follows similar moves by other states, though the US Commodity Futures Trading Commission has asserted federal authority over prediction markets.